Common use of Replacement of an LC Issuer Clause in Contracts

Replacement of an LC Issuer. Any LC Issuer may be replaced at any time by written agreement among the Borrower, the Agent, and the successor LC Issuer with notice thereof to the replaced LC Issuer. The Agent shall notify the Lenders of any such replacement of an LC Issuer. At the time any such replacement shall become effective, the Borrower shall pay all unpaid fees accrued for the account of the replaced LC Issuer pursuant to Section 2.20.4. From and after the effective date of any such replacement, (A) the successor LC Issuer shall have all the rights and obligations of an LC Issuer under this Agreement with respect to Facility LCs to be issued by it thereafter and (B) references herein to the term “LC Issuer” shall be deemed to refer to such successor or to any previous LC Issuer, or to such successor and all previous LC Issuers, as the context shall require. After the replacement of an LC Issuer hereunder, the replaced LC Issuer shall remain a party hereto and shall continue to have all the rights and obligations of an LC Issuer under this Agreement with respect to Facility LCs issued by it prior to such replacement, but shall not be required to issue additional Facility LCs.

Replacement of an LC Issuer. Any LC Issuer may be replaced and additional LC Issuers may be added at any time by written agreement among the Borrower, the Administrative Agent, the replaced or existing LC Issuer and the successor LC Issuer with notice thereof to the replaced or additional LC Issuer. The Administrative Agent shall notify the Revolving Lenders of any such replacement of an such LC IssuerIssuer or the appointment of additional LC Issuers. At the time any such replacement shall become effective, the Borrower shall pay all unpaid fees accrued for the account of the replaced LC Issuer pursuant to Section 2.20.42.12(b). From and after the effective date of any such replacement, (A1) the successor LC Issuer shall have all the rights and obligations of an the replaced LC Issuer under this Agreement with respect to Facility LCs Letters of Credit to be issued by it thereafter and (B2) references herein to the term “LC Issuer” shall be deemed to refer to such successor or to any previous LC Issuer, or to such successor and all previous LC Issuers, as the context shall require. After the replacement of an LC Issuer hereunder, the replaced LC Issuer shall remain a party hereto and shall continue to have all the rights and obligations of an LC Issuer under this Agreement with respect to Facility LCs Letters of Credit issued by it prior to such replacement, but shall not be required or permitted to issue additional Facility LCsLetters of Credit.

Replacement of an LC Issuer. Any An LC Issuer may resign as an LC Issuer upon forty-five (45) days’ prior written notice to the Administrative Agent, the Lenders and the Borrower. An LC Issuer may be replaced at any time only (i) by written agreement among the Borrower, the Administrative Agent, the replaced LC Issuer and the successor LC Issuer with notice thereof or (ii) by written agreement among the Borrower, the Administrative Agent and the successor LC Issuer following a default by such LC Issuer in respect of its obligations under this Agreement or failure of such LC Issuer to satisfy the replaced LC Issuerdefinition of an Acceptable Credit Provider. The Administrative Agent shall notify the Lenders of any such replacement of an LC Issuer. At the time any such replacement shall become effective, the Borrower shall pay all unpaid fees and LC Reimbursement Obligations, if any, accrued for the account of the replaced LC Issuer pursuant to Section 2.20.42.5. From and after the effective date of any such replacement, (Aa) the successor LC Issuer shall have all the rights and obligations of an the replaced LC Issuer under this Agreement with respect to Facility LCs Letters of Credit to be issued by it thereafter and (Bb) references herein to the term “LC Issuer” ”, as applicable, shall be deemed to refer to such successor or to any previous LC Issuer, or to such successor and all previous LC Issuers, as the context shall require. After the replacement of an any LC Issuer hereunder, the replaced LC Issuer shall remain a party hereto and shall continue to have all the rights and obligations of an such LC Issuer under this Agreement with respect to Facility LCs any Letter of Credit issued by it prior to such replacement, replacement (and any LC Reimbursement Obligation or LC Loan with respect thereto) but shall not be required to issue any additional Facility LCsLetter of Credit, as applicable.

Replacement of an LC Issuer. Any LC Issuer may be replaced at any time by written agreement among the Borrower, the Agent, the replaced LC Issuer and the successor LC Issuer with notice thereof to the replaced LC Issuer. The Agent shall notify the Revolving Lenders of any such replacement of an LC Issuer. At the time any such replacement shall become effective, the Borrower shall pay all unpaid fees accrued for the account of the replaced LC Issuer pursuant to Section 2.20.42.12.2. From and after the effective date of any such replacement, (Ai) the successor LC Issuer shall have all the rights and obligations of an LC Issuer under this Agreement with respect to Facility LCs Letters of Credit to be issued by it thereafter and (Bii) references herein to the term “LC Issuer” shall be deemed to refer to include such successor or to include any previous LC Issuer, Issuer or to such successor and all previous LC Issuers, as the context shall require. After the replacement of an LC Issuer hereunder, the replaced LC Issuer shall remain a party hereto and shall continue to have all the rights and obligations of an LC Issuer under this Agreement with respect to Facility LCs Letters of Credit issued by it prior to such replacement, but shall not be required to issue additional Facility LCsLetters of Credit.

Replacement of an LC Issuer. Any LC Issuer may be replaced at any time by written agreement among the Borrower, the Administrative Agent, the replaced LC Issuer and the successor LC Issuer with notice thereof to the replaced LC Issuer. The Administrative Agent shall notify the Revolving Lenders of any such replacement of an such LC Issuer. At the time any such replacement shall become effective, the Borrower shall pay all unpaid fees accrued for the account of the replaced LC Issuer pursuant to Section 2.20.42.11(b). From and after the effective date of any such replacement, (A1) the successor LC Issuer shall have all the rights and obligations of an the replaced LC Issuer under this Agreement with respect to Facility LCs Letters of Credit to be issued by it thereafter and (B2) references herein to the term “LC Issuer” shall be deemed to refer to such successor or to any previous LC Issuer, or to such successor and all previous LC Issuers, as the context shall require. After the replacement of an LC Issuer hereunder, the replaced LC Issuer shall remain a party hereto and shall continue to have all the rights and obligations of an LC Issuer under this Agreement with respect to Facility LCs Letters of Credit issued by it prior to such replacement, but shall not be required to issue additional Facility LCsLetters of Credit.

Replacement of an LC Issuer. Any An LC Issuer may be replaced at any time by written agreement among the Borrower, the Administrative Agent, the replaced LC Issuer and the successor LC Issuer with notice thereof to the replaced LC Issuer. The Administrative Agent shall notify the Revolving Credit Lenders of any such replacement of an LC Issuer. At the time any such replacement shall become effective, the Borrower shall pay all unpaid fees accrued for the account of the replaced LC Issuer pursuant to Section 2.20.4Issuer. From and after the effective date of any such replacement, (Aa) the successor LC Issuer shall have all the rights and obligations of an the replaced LC Issuer under this Agreement with respect to Facility LCs Letters of Credit to be issued by it thereafter such successor LC Issuer thereafter, and (Bb) references herein to the term “LC Issuer” shall be deemed to refer to such successor or to any other current or previous LC Issuer, or to such successor and all other current or previous LC Issuers, as the context shall require. After the replacement of an LC Issuer hereunder, the replaced LC Issuer shall remain a party hereto and shall continue to have all the rights and obligations of an LC Issuer under this Agreement with respect to Facility LCs Letters of Credit issued by it prior to such replacement, but shall not be required to issue additional Facility LCs.Letters of Credit. Pretium Resources Inc. - Credit Agreement

Replacement of an LC Issuer. Any LC Issuer may be replaced and additional LC Issuers may be added at any time by written agreement among the Borrower, the Administrative Agent, the replaced or existing LC Issuer and the successor LC Issuer with notice thereof to the replaced or additional LC Issuer. The Administrative Agent shall notify the Revolving Lenders of any such replacement of an such LC IssuerIssuer or the appointment of additional LC Issuers. At the time any such replacement shall become effective, the Borrower shall pay all unpaid fees accrued for the account of the replaced LC Issuer pursuant to Section 2.20.42.12(b). From and after the effective date of any such replacement, (A1) the successor LC Issuer shall have all the rights and obligations of an the replaced LC Issuer under this Agreement with respect to Facility LCs Letters of Credit to be issued by it thereafter and (B2) references herein to the term “LC Issuer” shall be deemed to refer to such successor or to any previous LC Issuer, or to such successor and all previous LC Issuers, as the context shall require. After the replacement of an LC Issuer hereunder, the replaced LC Issuer shall remain a party hereto and shall continue to have all the rights and obligations of an LC Issuer under this Agreement with respect to Facility LCs Letters of Credit issued by it prior to such replacement, but shall not be required to issue additional Facility LCsLetters of Credit.

Replacement of an LC Issuer. Any LC Issuer may be replaced at any time by written agreement among the Borrower, the Agent, the replaced LC Issuer and the successor LC Issuer with notice thereof to the replaced LC Issuer. The Agent shall notify the Lenders of any such replacement of an LC Issuer. At the time any such replacement shall become effective, the Borrower shall pay all unpaid fees accrued for the account of the replaced LC Issuer pursuant to Section 2.20.42.20(e). From and after the effective date of any such replacement, (A) the successor LC Issuer shall have all the rights and obligations of an LC Issuer under this Agreement with respect to Facility LCs to be issued by it thereafter and (B) references herein to the term “LC Issuer” shall be deemed to refer to such successor or to any previous LC Issuer, or to such successor and all previous LC Issuers, as the context shall require. After the replacement of an LC Issuer hereunder, the replaced LC Issuer shall remain a party hereto and shall continue to have all the rights and obligations of an LC Issuer under this Agreement with respect to Facility LCs issued by it prior to such replacement, but shall not be required to issue additional Facility LCs.

Replacement of an LC Issuer. Any An LC Issuer may be replaced at any time by written agreement among the Borrower, the Administrative Agent, the replaced LC Issuer and the successor LC Issuer with notice thereof to the replaced LC Issuer. The Administrative Agent shall notify the Revolving Credit Lenders of any such replacement of an LC Issuer. At the time any such replacement shall become effective, the Borrower shall pay all unpaid fees accrued for the account of the replaced LC Issuer pursuant to Section 2.20.4Issuer. From and after the effective date of any such replacement, (Aa) the successor LC Issuer shall have all the rights and obligations of an the replaced LC Issuer under this Agreement with respect to Facility LCs Letters of Credit to be issued by it thereafter such successor LC Issuer thereafter, and (Bb) references herein to the term “LC Issuer” shall be deemed to refer to such successor or to any other current or previous LC Issuer, or to such successor and all other current or previous LC Issuers, as the context shall require. After the replacement of an LC Issuer hereunder, the replaced LC Issuer shall remain a party hereto and shall continue to have all the rights and obligations of an LC Issuer under this Agreement with respect to Facility LCs Letters of Credit issued by it prior to such replacement, but shall not be required to issue additional Facility LCsLetters of Credit.